News Column

Building Permits up Across the Country

May 16, 2013
new construction

Nationwide building permits for single-family homes rose 27 percent in the first quarter from a year earlier, according to RealtyTrac.

Multi-family building permits increased 23 percent nationally in the first quarter from a year earlier, the Irvine, Calif.-based housing data firm said.

States leading in single-family building permits were Texas, Florida, North Carolina, California and Georgia, according to RealtyTrac, which examined data from the U.S. Department of Housing and Urban Development.

RealtyTrac said the increase nationally in new building activity should help offset a corresponding decline in foreclosure starts in many markets, thus helping to ease the scarcity of homes for sale in many markets.

Miami and Fort Lauderdale ranked among the nation's top cities in foreclosure starts in the first quarter, RealtyTrac said. That activity should help offset an inventory shortage in South Florida as foreclosed properties come back on the market, the firm said.

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